Türk Tuborg Bira ve Malt Sanayii A.S. Stock Forecast
Evaluation of Türk Tuborg Bira ve Malt Sanayii A.S. stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Türk Tuborg Bira ve Malt Sanayii A.S. stock price fell by -1.99% on the last day (Thursday, 18th Apr 2024) from TRY 87.75 to TRY 86.00. During the last trading day the stock fluctuated 2.21% from a day low at TRY 86.00 to a day high of TRY 87.90. The price has fallen in 6 of the last 10 days and is down by -2.11% for this period. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 45 thousand shares were bought and sold for approximately TRY 3.88 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 84.01 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.60% during the next 3 months and, with a 90% probability hold a price between TRY 95.44 and TRY 110.88 at the end of this 3-month period.
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TBORG.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Türk Tuborg Bira ve Malt Sanayii A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 87.79 and TRY 86.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -5.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Türk Tuborg Bira ve Malt Sanayii A.S. stock
Türk Tuborg Bira ve Malt Sanayii A.S. finds support from accumulated volume at TRY 85.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 1.90 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TBORG.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Türk Tuborg Bira ve Malt Sanayii A.S. to open at TRY 86.63, and during the day (based on 14 day Average True Range), to move between TRY 84.08 and TRY 87.92, which gives a possible trading interval of +/-TRY 1.92 (+/-2.24%) up or down from last closing price. If Türk Tuborg Bira ve Malt Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 85.00 (1.16%) than the resistance at TRY 88.00 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Türk Tuborg Bira ve Malt Sanayii A.S. stock A Buy?
The Türk Tuborg Bira ve Malt Sanayii A.S. stock holds several negative signals and despite the positive trend, we believe Türk Tuborg Bira ve Malt Sanayii A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.917 Sell Candidate Downgraded
Predicted Opening Price for Türk Tuborg Bira ve Malt Sanayii A.S. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 86.63 ( 0.736%) | TRY 86.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TBORG.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 88.53 | 2.95 % | |
| R2 | 87.81 | 2.10 % | ||
| R1 | 87.36 | 1.58 % | ||
| Current price: | 86.00 | |||
| Support | S1 | 85.91 | -0.108 % | |
| S2 | 85.46 | -0.629 % | ||
| S3 | 84.73 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 90.00 | 4.65 % | |
| R2 | 89.30 | 3.84 % | ||
| R1 | 88.00 | 2.33 % | ||
| Current price | 86.00 | |||
| Support | S1 | 85.00 | -1.16% | |
| S2 | 82.50 | -4.07% | ||
| S3 | 75.10 | -12.67% |
FAQ
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